Kitron ASA ("Kitron") and EDC i Munkfors AB ("EDC"), headquartered in Sweden, have entered into an agreement whereby Kitron will acquire certain assets from EDC, among these EDC's subsidiary EDC Elsis UAB in Kaunas, Lithuania. EDC Elsis UAB currently employs about 40 people and operates a manufacturing facility of about 2,000 sqm. The agreement is subject to customary closing conditions, which are expected to be completed by August. The investment will amount to about SEK 14 million. Furthermore, EDC and Kitron may enter into further agreements at a later stage. By this acquisition, Kitron expands its customer portfolio and also obtains additional capacity to serve current customers' growth requirements.
28 June 2007
Kitron ASA
Contact persons Kitron ASA:
CEO Jørgen Bredesen, tel +47 48 25 25 84 and
CFO Erling Svela, tel +47 40 62 10 40
Kitron is one of Scandinavia`s leading companies within development, industrialisation and production for the data/telecom, defence/marine, medical and other industries. The company is located in Norway, Sweden and Lithuania. Kitron had a turnover of about NOK 1,7 billion in 2006 and has 1,300 employees. See also www.kitron.com.